─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Westlake Village

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying UK micro-entities that choose to apply the micro-entities regime. If your company meets the relevant size conditions and selects that regime, FRS 105 governs how the financial statements are drawn up, including the form and content of the balance sheet, the notes, and the accounting policies applied. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your actual financial records and are put together appropriately for your company’s particular circumstances, rather than being squeezed into a template that does not quite fit. For directors in Westlake Village running a small limited company, that means clearer financial statements, a smoother path to filing at Companies House, and a set of accounts that is consistent with the information you hold.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
   Based on 300 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
      Posted on Google  
   
   Mansur Liman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
      Posted on Google  
   
   Muna Mohamoud 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail. Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable. I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
      Posted on Google  
   
   Sergey M 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
      Posted on Google  
   
   Ebba Qureshi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .
  
 
      Posted on Google  
   
   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
      Posted on Google  
   
   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
      Posted on Google  
   
   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework in Plain English

FRS 105 is the financial reporting standard that applies to companies using the UK micro-entities regime. In simple terms, the micro-entities regime is an optional accounting framework available to companies that fall within certain size limits, and FRS 105 is the standard that governs the financial statements when that regime is chosen. FRS 105 accounts are simplified compared with the accounts of larger companies: the balance sheet is prepared using a prescribed format, a smaller set of notes is normally required, and there are restrictions on the accounting policies and measurement bases that can be used. Qualifying companies are not obliged to use the regime — applying it is a choice, and FRS 105 applies when that choice is made. Understanding whether FRS 105 Micro Entity Accounts suit your company is largely about weighing up simplicity against the level of detail and disclosure you want your financial statements to show.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and that choose to apply it. Size is the starting point: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable conditions — turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Those conditions are accompanied by other eligibility rules and exclusions, and certain types of company are prevented from using the regime whatever their size. It also matters that the framework is a choice: qualifying does not oblige a company to adopt FRS 105, and a company that qualifies may decide that a different framework better suits its circumstances. For directors in Westlake Village weighing up FRS 105 Micro Entity Accounts, the practical question is whether the company qualifies and whether simplified reporting is the right fit for its shareholders, lenders, and future plans.

A company generally needs to meet at least 2 of these 3 conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

We keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Accounts Support

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Clear, Transparent Pricing

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professionally Prepared FRS 105 Micro Entity Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts begins with your company’s financial records — bookkeeping, bank and cash records, invoices, expenses, asset purchases, and any liabilities outstanding at the period end. From those records, the accounts are drawn up in line with FRS 105 and the applicable reporting requirements for a company using the micro-entities regime. That work produces the financial statements themselves: a balance sheet in the prescribed micro-entity format, supporting notes where required, and the figures that feed into the company’s statutory filing at Companies House. It is worth being clear that the accounts and the filing are one part of your obligations, and Corporation Tax is another. A Corporation Tax Return (CT600) is a separate submission made to HMRC, prepared from the same underlying figures but not the same document as the accounts. Our role is to prepare the accounts carefully from the information you provide and to explain the basis on which they have been prepared, so you can see what has been done and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with FRS 105 Micro Entity Accounts for your company in Westlake Village, the next step is a straightforward conversation. Tell us about your business — what it does, how it is structured, when your accounting period ends, and which accounting framework you are currently using — and share the records you hold, such as your bookkeeping, bank statements, and details of any assets, loans or expenses. With that information we can look at whether the micro-entities regime is likely to be available to you, explain what FRS 105 financial statements would involve in your case, and set out clear, transparent pricing for the work. There is no obligation to proceed, and no assumption that FRS 105 is the right answer for every company.

─── FAQs

FRS 105 Accounts Preparation FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What is FRS 105?

FRS 105 is the UK financial reporting standard for companies that use the micro-entities regime. It sets out how the financial statements of a qualifying micro-entity are prepared, including the format of the balance sheet, the notes that are required, and the accounting policies and measurement bases that may be used. It is a simplified framework, designed to reduce the reporting burden on the smallest companies, and FRS 105 Micro Entity Accounts are the financial statements produced under it.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime under UK company law and that choose to apply it. Meeting the size conditions is part of the picture, but eligibility rules and exclusions also apply, and some companies are excluded from the regime regardless of their size. Because the position depends on your company's specific circumstances and history, it is sensible to check eligibility before deciding to prepare accounts under FRS 105.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies may choose to apply it, and if it does, FRS 105 governs the financial statements. A qualifying company may instead prepare its accounts under a different framework, such as FRS 102, which generally involves more detailed disclosure. The right choice depends on what the company needs from its accounts and who is likely to rely on them.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. These conditions sit alongside other rules and exclusions, so satisfying two of the three thresholds does not automatically mean a company qualifies for the micro-entities regime. Eligibility should be assessed against the full requirements and the company's own position.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 105 is the micro-entities standard and is deliberately simpler, with a prescribed balance sheet format, limited notes, and restricted accounting policy choices. FRS 102 is the standard for larger small companies and other entities, and it generally requires more disclosures, more judgement around certain measurements, and a fuller set of financial statements. Moving between the two can affect how items are measured and what appears in the notes.

Do FRS 105 accounts need to be filed with Companies House?

Companies that prepare accounts under the micro-entities regime generally file them at Companies House as part of their annual accounts filing obligation, although the filing requirements depend on the company's circumstances and the options available to it. Preparing the financial statements and submitting the filing are separate steps, and the format filed may differ from the full accounts prepared for the directors and shareholders. It is worth confirming the current filing requirements that apply to your company before the deadline.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, while a Corporation Tax Return (CT600) is a separate submission made to HMRC covering the company's corporation tax position for the period. The two are connected because the CT600 is generally prepared using figures derived from the accounts, but they are different documents with different purposes and different filing routes. Preparing one does not, by itself, complete the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it, but there is no automatic entitlement simply because the company is new or small. In the first period, matters such as the length of the accounting period and the company's activity can affect how the size conditions are assessed. It is worth taking advice early, so the accounting framework is settled before the first set of accounts is prepared.

What information is needed to prepare FRS 105 accounts?

In practice, you will need your bookkeeping or accounting records for the period, bank and cash statements, sales and purchase information, details of expenses, and records of any assets, stock, loans, or amounts owed to and by the company at the period end. Details of share capital, directors' loans, and any prior year figures are also helpful. The more complete and up-to-date the records are, the more straightforward it is to prepare FRS 105 Micro Entity Accounts that properly reflect the company's position.